Oil (current news)

Oil prices resumed growth at the beginning of the European session. The main support for oil quotes is provided by the possibility of the resumption of sanctions against Iran. The US President Donald Trump threatened Iran with new sanctions, as there are doubts about Tehran’s compliance with the terms of the nuclear deal.

In turn, the pressure on oil quotes is exerted by the growth of oil reserves in the United States.

• According to the API, oil reserves increased by 3.427 million barrels, against the growth of 1,099 million barrels in the previous period.

At the moment, Brent crude oil is trading at around $ 73.40, adding about + 0.15% to the price.

WTI oil is trading at $ 67.69, adding about + 0.31% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov